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Barclaycard Minimum Payment
StevieJ
Posts: 20,174 Forumite
I set up a standard payment on my Barclaycard for the minimum amount (to avoid late payment charge). Then a few days before the due date I deducted the minimum from the outstanding balance and paid that off (assuming they would take the minimum). The problem is they have not taken the minimum and I have been left with a balance and an interest charge for the whole month, is that how it works with Barclaycard? Grateful for any illumination.
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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Comments
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Yes.
If you make an extra payment more than a few days prior to the direct debit (which is what I presume you mean by 'standard') they will deduct that payment from the minimum. If the payment exceeds the minimum due then no direct debit will be applied for.
On my online account it says:
"If you make a payment now, we may adjust the amount we collect later via Direct Debit.
Your Direct Debit pays the minimum payment each month. If you make extra payments, your Direct Debit will only collect the difference needed to reach the minimum."0 -
The trick is to make the additional payment within, say, three days of the direct debit date. That way the DD will still come out because it's requested a few days before the actual due date and won't take into account the extra payment.0
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Thanks, I can see now that this is another sly trick. I will just pay the full amount next time (which of course will mean paying a small amount off the next month). I do get 2% cashback so I have been wary about setting a DD to the full amount in case they class me as a non profit customer and remove my cashback (my cashback this month was actually more than the interest so I can't complain too much
). 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
To be fair it's not 'sly'. It says it quite clearly, as I just proved :-)0
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To be fair it's not 'sly'. It says it quite clearly, as I just proved :-)
This is not so clear is it? This was the statement in front of me when I chose to set up the DD. I realise now that if I make the full payment I will not be overpaying as they will not then take the DD.Your Direct Debit pays the minimum amount each month. You can also make extra payments.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Thanks, I can see now that this is another sly trick. I will just pay the full amount next time (which of course will mean paying a small amount off the next month). I do get 2% cashback so I have been wary about setting a DD to the full amount in case they class me as a non profit customer and remove my cashback (my cashback this month was actually more than the interest so I can't complain too much).
a myth................0 -
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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that CC companies don't like people that pay in full.
The point is I also receive 2% cashback, so that must eat into their customer profit margin. Out of interest what % kickback do they get from participating organsations?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
You can assume, get it wrong and accuse the card issuer of being an evil entity intent on rip-off.
Or you could ask, get some facts and act on them.
Blaming the card company here is ridiculous.0
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